Such schemes include Academic Scholarship, Alumni Grant, Appalachian Regional Grant, and Dr. Allen Smith Memorial Scholarship. Notably, 96% of the students at Muskingum University get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $8,969,909. Notably, a total of 58% of the applicants to Muskingum University receive the Federal Grant every year. On the other hand, 96% of the candidates get the Student Grant, 95% receive the Institution Grant, and 43% get the Pell Grant. While the Federal Grant awardees receive an average aid of $3,709, the State Grant receivers and Institution Grant beneficiaries get $2,964 and $18,268, respectively. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,541. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At MU, an estimated number of 96% of the applicants choose to go for student loans.